Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Lodgian, Inc.

Levi & Korsinsky is investigating the Board of Directors of Lodgian, Inc. (“Lodgian” or the “Company”) (AMEX: LGN) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to an affiliate of Lone Star Funds ("Lone Star"). Under the terms of the transaction, Lodgian shareholders are to receive $2.50 in cash for each share of common stock they own for total transaction value of approximately $270 million, including assumed debt.

The investigation concerns whether the Lodgian Board of Directors breached their fiduciary duties to Lodgian stockholders by failing to adequately shop the Company before entering into this transaction and whether Lone Star is underpaying for Lodgian shares, thus unlawfully harming Lodgian stockholders. The Company has a book value of $6.42 per share and Lodgian stock has a 52-week trading high of $3.20 per share.

If you are a current holder of Lodgian and would like additional information, please contact us at the number listed below or visit http://www.zlk.com/lgn1.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

Lodgian (AMEX:LGN)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024